By Sheri Kasprzak
New York, Jan. 30 - Valcent Products Inc. concluded a $2 million private placement of convertible notes.
The 6% notes are due Dec. 11, 2008 and are convertible into units of one share and one warrant at $0.50 each.
The warrants associated with the units are exercisable at $0.70 each through Dec. 11, 2008.
The notes are callable any time after Dec. 11, 2007.
Located in El Paso, Texas, Valcent develops skin-care products.
| Issuer: | Valcent Products Inc.
|
| Issue: | Convertible notes
|
| Amount: | $2 million
|
| Maturity: | Dec. 11, 2008
|
| Coupon: | 6%
|
| Price: | Par
|
| Yield: | 6%
|
| Conversion price: | $0.50 (into units of one share and one warrant)
|
| Call: | Callable after Dec. 11, 2007
|
| Warrants: | One warrant per unit upon conversion
|
| Warrant expiration: | Dec. 11, 2008
|
| Warrant strike price: | $0.70
|
| Settlement date: | Jan. 30
|
| Stock symbol: | OTCBB: VCTPF
|
| Stock price: | $0.58 at close Jan. 29
|
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